Now that you’ve read about go-to-market strategy, it's time to bring it to life. Our last article described the steps you need to take to achieve an ideal go-to-market strategy. But, before you can launch your proposition, you'll need a second component — an awesome digital marketing strategy. If you've read the previous article, you know all about creating a go-to-market strategy. You know that building a go-to-market strategy involves focusing on both your audience and the various stages of your marketing funnel. You even have a basic understanding of the different challenges for international markets. Now you need to get your proposition in front of your audience. This guide will build on everything you've learned in creating your go-to-market strategy to help you successfully launch your product.
What is a Product Launch Strategy?
I won't bother you with a definition of a product launch. It's self-explanatory.
Instead, let's dig deeper into how you actually launch that product to your future customers and brand loyalists. You should have, hopefully, nailed down your target audience during the initial stages of your go-to-market strategy. We’ll now build on that concept to help you launch your product and create killer brand awareness. Most, if not all of which, happens through marketing.In the FinTech sector, specifically, digital marketing is your best friend for finding, connecting with, and selling your audience on your new proposition.
How to Get Started with a Digital Marketing Strategy
You know how they say that first impressions matter? When you go-to-market that first impression often happens online. A potential customer Googles your business or product category or browses social media and comes across your proposition. To transform first impressions into conversions and loyal customers, you’ll need to find your unique selling point, understand the audience ecosystem, and leverage micro-moments to build a lasting relationship that goes beyond the point of sale.
Find Your Unique Selling Point
If you’ve done your go-to-market strategy right, you already know what makes your brand and company unique. As discussed in our last guide, the biggest challenge here is matching your unique selling proposition with a core audience need. Answer the questions they ask. Find those pain points, and become a solution to their most pressing problem. Present your business as one-of-a-kind with a must-have product or service. Position your product as incredibly valuable and life-changing, so customers keep coming back for more. That's how you make your product launch go apesh!t.
Understand the Audience Ecosystem
Understanding your audiences’ needs doesn’t mean much if you can’t get your message in front of them.
Every business, industry, and audience segment has unique behavioural patterns. Find and define those patterns, then interject yourself into their online life. Start by finding the right platform. Depending on your customer’s age, gender, and educational background, that could be anything from Facebook to Pinterest. Find the platform your tribe uses, then make yourself at home. Don't stop at one platform, either. Your audience certainly doesn't. Instead, build your presence on multiple platforms. Instead of a separate strategy for each, businesses who use cross-channel or omnichannel approaches perform best. A cross-channel approach stretches across platforms to create a unified, integrated campaign that supports customers across the entire sales journey.
Within and across each channel, build a multi-layered strategy. Your strategy might include organic content designed to drive engagement through educational articles. Or, alternatively, paid digital marketing to put you front and centre. And, of course, you can use a healthy mix of both to maximise your opportunities. Organic or paid, look to connect your strategy back to your website, which happens through 'magnets' or high-value content that draw your audience in; like whitepapers, webinars, or blog posts. Each magnet should be supported by a comprehensive digital strategy that stretches across channels to drive visits.
Define Your Micro-Moments
Don't think of your audience journey as one long, consistent experience. It's much more fragmented. Your potential customers might instinctively use their device to answer a question or solve a need at any given time. That's called a micro-moment, and it's an opportunity for you to leverage a high degree of intent.To achieve engagement, you need to know your audiences most common questions and the moments they ask them. Once you understand these questions, you can serve your audience the right content at the right moment. Get it right, and your return on investment will be significant.
Launch & Post Launch
Much of the legwork is done. But, you're not quite ready to launch yet.No digital marketing strategy is complete without a specific set of goals, along with the tools needed to achieve those goals. That's how you enter the launch phase.
In many ways, your KPIs are your Bible. They'll guide every digital marketing decision you make, both for the initial product launch and long after. Simply put, you need to know how to measure success to grow and keep growing. Ask yourself a simple question: What do you want to achieve from your campaign? What does success look like, and how long do you have to make it happen? Then, get specific with KPIs such as:
- X visits to your website, particularly to those magnet pages.
- X engagement on your digital efforts as a way to show positive engagement.
- X amount of leads in your database.
- X% open rate and Y% click-through rate for your emails.
- X amount of sales over Y period.
We could keep going. The point is that these are just some of the most common KPIs businesses use at product launch stage, but you can select KPIs that meet your unique objectives.You have to know how to define success, then find the time and number-based metrics to help you reach that goal.
Identify Your Tool Kit
Thankfully, you have an almost endless supply of tools designed to help you launch your product with digital marketing.It pays to investigate and find one that matches your needs and helps you automate your tasks. A comprehensive platform like HubSpot might make sense. It manages your social media, landing pages, lead generation, email, and lead nurturing campaigns. Or tools like MailChimp for your email marketing efforts, Drift for live chat, and Unbounce for your landing pages can help you dig into the details and optimise your launch.
Encourage Customers Along the Sales Funnel
With the right tools in place, it's time to start swinging. At the time of brand launch, it's only natural to focus on brand awareness above all else.If you genuinely want to build a strategy that sustains your long-term growth, you'll need to consider the entire sales funnel. We've discussed the sales funnel a bit in our go-to-market strategy guide. Now is the time to really start digging. Your funnel is a fluid concept, meant to illustrate how someone who’s never heard of your brand slowly turns into a customer. You’ll attract a large number of prospects, but only a few will turn into paying customers. At each stage, from consideration to decision, some drop out of the process, leading to that funnel descriptor. The best product launch strategies support customers across the entire sales journey. Of course, to do this you need to identify where in the funnel your current customers are, which can be tricky.Platforms like HubSpot have reports that can help you see where in the funnel your CRM contacts are. More frequently, though, it's about the content they're interested in. For example, a customer at the early awareness stage will be interested in industry content. They don't know much about your company yet but are willing to listen to your expertise. At the consideration stage, the content desires become more comparative; how do you stack up? Finally, the decision stage puts practical questions like pricing, contracts, and long-term partnerships into the foreground.
Launch Your Product with Growth Gorilla
Yes, it's complicated. No, that doesn't have to mean launching your product and brand is daunting or even impossible. You just need to know where to start. And if this guide isn't enough to set you on your path, work with us to make it happen.
At Growth Gorilla, we’re experts at launching products and sustaining momentum through the initial growth phase. That's why we don't call ourselves an agency. We're a growth machine, and we want to help you leverage that power for greater success.So talk to us. Let us know about your product and your preparations in going to market. Visit our website and schedule a call.
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